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Pro Forma Financial Results Presentation Pro-Forma Financial Results Presentation (as of and for the year then ended 31 December 2019) June 2020 Disclaimer This presentation (the “Presentation”) was made available by Avia Solutions Group PLC (“ASG”) together with each of its subsidiaries, (the “Group”). This Presentation is being made available to a number of institutions in order to provide background information to assist those Recipients in obtaining a general understanding of the business of the Company and the Group. It is not intended that this Presentation invites, offers, or induces, a recipient to buy, sell, subscribe for or underwrite any financial instruments, any security or other investments, in any jurisdiction, nor should it or any part of it of the fact of its distribution form the basis of, or be relied upon in connection with, any contract or investment decision in relation thereto. The information in the Presentation is summary in nature, is not comprehensive and has not been independently verified, and it should not be relied upon. The information in this Presentation addresses certain specific circumstances as at the date they were prepared. No representation or warranty (whether express or implied) is given by ASG or the Group, nor any of their respective directors, officers, employees, agents, representatives or professional advisers as to the correctness, completeness, adequacy, accuracy or reasonableness of this Presentation or the information contained herein, in particular in respect of forward-looking statements, including the achievement or reasonableness of management estimates, opinions, targets or other future projections. Any such forward-looking statements or future projections are subject to various risks and significant uncertainties and contingencies, many of which are difficult to predict, that could cause actual results and developments to differ materially from those expressed in, or implied or projected by, the forward-looking statements and future projections. Actual results may depend on future events which are not in ASG’s control and may be materially affected by unforeseen economic or other circumstances. Nothing in this Presentation shall form the basis of any contract, representation, warranty or undertaking, express or implied. The Group and their affiliates’ in each case direct and indirect shareholders, holding companies, representatives, agents and, advisors and subsidiaries expressly disclaim (to the extent permitted by law) and exclude any and all responsibility and/or liability which may be based on this Presentation, and the Recipient is required to make such independent investigations and verification as it deems necessary. Neither ASG, the Group nor any of their respective directors, officers, employees, agents, representatives or professional advisers shall be liable for any direct, indirect or consequential loss or damage suffered by any person as result of relying on any statement contained in (or omitted from) this Presentation. The Group and their affiliates’ in each case direct and indirect shareholders, holding companies, representatives, agents and, advisors and subsidiaries shall be under no obligation to update this Presentation or the information contained herein, provide the recipient with access to any additional information, correct any inaccuracies in it which may become apparent, modify or update this Presentation, but reserve the right, at any time in their absolute discretion and in any respect, to amend or terminate the proposal(s) described herein without giving reasons. No Recipient shall approach the directors, officers or employees of any member of the Group in connection with this Presentation unless otherwise agreed in writing between the Recipient and ASG. Distribution of this Presentation in or from certain jurisdictions may be restricted or prohibited by law. Recipients are required to inform themselves of, and comply with, all such restrictions or prohibitions and the Group accept no liability to any person in relation to the distribution of this Presentation in any jurisdiction. This notice and any dispute arising from it or in connection with the Presentation, whether contractual or non-contractual, is governed by English law and the Recipients, by accepting the Presentation, agree that the courts of England have exclusive jurisdiction to settle any dispute arising out of or in connection with the Presentation. 2 Avia Solutions Group – Company Snapshot Leading Regional Aviation Services Provider with Multi-Service Global Operating Footprint AVIA SOLUTIONS GROUP OVERVIEW BB One-Stop Aviation by S&P and Fitch • Avia Solutions Group is a global multi-service aviation holding that provides integrated aviation- Services Shop related services and solutions worldwide €1,103mn Revenue • Via organic growth and a number of strategic M&A transactions, ASG has developed into the one 2019FY Consolidated Pro Forma of the largest aerospace business groups and independent aviation services providers in Central >100 and Eastern Europe €215mn EBITDA 2019FY Consolidated Pro Forma COMPANIES • Truly global presence with more than 3,500 employees spread across offices in 30 countries around the world, and growing exposure to Asian and US markets 19% EBITDA Margin % • Well-diversified and global customer base with revenue generated in more than 150 countries 2019FY Consolidated Pro Forma ~6,500 1 across five continents, out of which more than 70% attributed to European developed markets € 213 Net Debt EMPLOYEES Consolidated BS as of 31 Dec 2019 MULTI-SERVICE PROVIDER WITH INTEGRATED BUSINESS MODEL GROUP 2019 FINANCIAL RESULTS BREAKDOWN 48 COUNTRIES OF Consolidated 2019FY Pro Forma Consolidated 2019FY Pro Forma AVIATION SUPPORT SERVICES PRESENCE Revenue by segment EBITDA by segment MRO, Ground Handling, Fuelling & Logistics, Crew Training & Stuffing -32 151 >70 149 REGISTERED 398 TRADEMARKS €1,103mn 33 Total PF €215mn AVIATION LOGISTICS & AIRCRAFT TRADING & Revenue Total PF DISTRIBUTION PORTFOLIO 33 EBITDA >3,000 586 Aircraft, Crew, Maintenance MANAGEMENT DIRECT CLIENT and Insurance Solutions, Aircraft leasing, trading and CONTACTS Passenger and Cargo Charter, management solutions Private Jet Services Aircraft Trading and Portfolio Management Aviation Logistics and Distribution Services (per month) Aviation Support Services Other 3 Company Overview Company overview Financial Information Appendix to Financial Information 4 I Unique Combination of Services & Multi-Brand Portfolio One-stop Shop Approach allows ASG to generate plenty of synergies and boost margins AIRCRAFT TRADING & PORTFOLIO MANAGEMENT AVIATION SUPPORT SERVICES Aircraft Trading Aircraft Leasing Aircraft Maintenance (MRO) & Spare Parts Aircraft Management Consulting and remarketing Crew training & FL Technics, JET MS, Storm Aviation recruitment Fleet and transaction management Aircraft trade & Ground Handling & Fuelling • One of the leading aircraft lessors in CEE engaged in leasing lease Baltic Ground Services, Aviator of mainline narrow body and regional jets (Boeing 737 and Spare parts & Aviation Training & Recruitment Airbus A320, Bombardier CRJs) engines • AviaAM has 11 commercial passenger aircraft in fleet1 BAA Training, AeroTime Hub • Engaged in JV with the Henan Civil Aviation Development and Investment (AviaAM China JV) ACMI • MRO & Spare Parts: Base maintenance – 3 hangars in Europe and 2 hangars in Asia; Line maintenance – 50 stations in Europe, Africa, the MRO CIS and Asia • Ground Handling and fueling stations at 29 AVIATION LOGISTICS & DISTRIBUTION airports across CEE , Balcans & Scandinavia Passenger Wet Lease Damp Lease Private Jet charter Ground service, • One of the three largest independent aviation Group Charters Cargo Charters Charters Fueling training centers in Europe with facilities across Europe, Americas, Africa and Asia On Board Courier Humanitarian Airlifts Cargo charter • Chapman Freeborn is world's leading aircraft charter and aviation support companies, based on group turnover and global footprint and has 45 year expertise in air charter solutions for passenger and cargo. • SmartLynx had a fleet of 22 Airbus A320 and A321 family aircraft, whereas Avion Express had a fleet of 13 Airbus A320 family aircraft 1 1. Fleet number is counted as of 31 December 2019 5 I Leading Aviation Services Provider Global operations with leading positions across business segments Companies Countries of Countries contributed Global Reach 160 Employees >100 in the Group 48 Presence 150 to Group’s Revenue >1k~3.5k REGIONAL LEADER IN EVERY SEGMENT OF OPERATIONS GEOGRAPHICAL REVENUE BREAKDOWN 2019FY1 Wide geographical presence across the globe with a One of the leading ACMI provider in Europe focus on mature markets of Europe and increasing presence across developing countries in Asia, the Middle East and Africa Amongst TOP3 largest independent aviation training centres in RoW Europe HQ CIS 5% One of the leading base and line 6% maintenance provider in Europe Asia 70.7% comes from 12% European Developed Markets One of the leading aircraft lessor Backoffice in Central & Eastern Europe Kaunas 76% Vilnius Europe One of the longest standing global cargo charter brands in the world HQ Heavy Representative Line Maintenance BAA Training HQ Warehouses Cyprus Maintenance Offices Stations Simulators Hangars Source: company information. Note: herein no facilities located in Americas are presented 6 1) Based on consolidated pro forma combined revenues for 12 months ended on 31 December 2019 I Group History – Long-Established Presence in
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